Reading Borough Council has chosen Kier Property as its preferred bidder to invest and deliver a mixed-use regeneration scheme in
the area around the Civic Centre in Hosier Street, Reading.
Kier will now work with the council to draw up detailed plans for a mixed residential and retail development on the site, which includes Hosier Street.
Cllr Jo Lovelock, Reading Council leader, said: "This represents a significant step forward in the process to regenerate the area around the Civic Centre, and I am delighted that we have been able to attract a company of the calibre of Kier as our development partner.
"The Civic Board was impressed with Kier's vision for the area. The company is a major development player and was able to demonstrate some impressive examples of where it has completed similar projects elsewhere in the UK. We are confident Kier will help to deliver an exciting transformation of this important part of the town centre."
The Civic Centre building will be closed and demolished once staff have moved to a new headquarters building at Plaza West, Bridge Street.